As an Entrepreneur, You Need to Hone These Skills

By Randall Orser | Small Business

Your skills as an entrepreneur are crucial to being successful, whether you’re a Silicon Valley startup or a business owner in Vancouver. Two things come from focusing your efforts on becoming a better business owner, helping your company grow, and the opportunity to be a role model to others. Great entrepreneurs concentrate on building their skills as an entrepreneur, not just press mentions and networking. Do you want to become a better entrepreneur? Here are five actions that will accelerate your success.
It all starts with you! You need to focus on developing your personal strengths, as much as focusing on the business 24/7 or your company suffers in the long run. As you focus on your own strengths, and continual emotional and mental growth, you are much more likely to be happier and successful.
By focusing on becoming a better-rounded individual, through yoga classes, new meditation practices, documentary films, or reading, you’ll never regret this expenditure of energy.
Push Past Mediocrity
Never settle for mediocrity! You want to grow your business and mediocrity is the way to kill it. However, don’t become paralyzed with the constant need to improve your product either; and don’t offer a product or service that is just okay.
How’s your offering? Is it spectacular, or just meh? If you’re not offering something great, then your competitors probably will. Are your just meeting customer expectations, or exceeding them? You not only encourage ongoing sales growth, but honour yourself as an entrepreneur.
Be an Entrepreneur of Achievement
Is what you’re doing now, getting you towards your goals? Be that revenue, net profit, customer list size, or something else. More and more business owners are spending too much time on social media, and networking. Does networking even work anymore? How do you build a successful company when you spend so much time online? Challenge yourself to be a person of action.
When you’re getting ready for bed at night, can you make a list of the tasks you got done that day. Talk is cheap. You need to concentrate on getting those tasks done that help grow you company.
Your Customers are Your Best Resource
What are the wants and needs of your customers? Do you know? Your customers are the best way to grow your business. I know what you’re thinking ‘well, duh’. You’d be surprised how many entrepreneurs miss this essential realization.
Use your customer’s input to move your company forward, as they are your greatest resource for information. Every piece of intelligence your customers provide is important market research for you; this could be product tweaks they’d like to see, to feedback on your customer service, maybe information on your competition, and more.
Make your customers priority #1, and you’ll be astonished at the opportunities for growth that come your way. The great thing about customer feedback is that it’s free, though it may cost you in the long run if you don’t pay attention.
Become Addicted to Opportunity
Are excuses inhibiting your business growth? Are roadblocks and excuses stopping you from meeting challenges? You need to look at the terrific opportunities coming at your that others may miss, such as testing existing markets, or making new ones.
Are you too accepting of the status quo? Successful businesses are built because shrewd entrepreneurs made a mindful choice not to accept that status quo. Want to accelerate your business? Search for opportunity that others may not see.
Successful entrepreneurship is about hard work and determination, not about networking and surfing online. You need to concentrate on entrepreneurial skills that matter for success, especially if you want a company that grows. Stop schmoozing and focus your efforts on becoming a better entrepreneur. Your bottom line will love you for it.
Networking is dying, however, there is a better way. Check out Derek Coburn’s book Networking is not Working.


About the Author

President/CEO Number Crunchers® Accounting Inc. Learn how to just say stuff it to this bookkeeping thing with our 'Just Say: "Stuff It" To Bookkeeping program.